Wine is an experience good and also (at least under certain circumstances and to a certain extent) a conspicuous consumption good. As such, wine buyers should be willing to pay a premium for regional reputation to avoid risk and to send signals about their wealth and social status. At the same...

Wine is an experience good and also (at least under certain circumstances and to a certain extent) a conspicuous consumption good. As such, wine buyers should be willing to pay a premium for regional reputation to avoid risk and to send signals about their wealth and social status. At the same...

Assuming that wine markets are efficient, ultimately a bottle of wine's cost and therefore its price should reflect its vintage, grape variety as well as how it is vinified. Yet, being an experiential good, a wine's price is also closely related to its place of origin. If the designated...

Globalization and the expansion of world wine trade have caused a wine boom that together with agricultural subsidies have made fluctuations in wine inventories a more critical issue. In the case of domestic and international wine markets, little is known about intertemporal inventory...